S&P Global: Russia’s Manufacturing PMI falls to 50.7 in October

MOSCOW, Nov 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 50.7 in October from 52 in September, staying above the no-change mark of 50, research agency S&P Global said in a statement on Tuesday.

An improvement of operating conditions occurred in October, but the growth became slower due to "softer increases in output and new orders," the researcher said. The increase was the slowest since July.

Meanwhile, cost burdens rose at a sharper pace, as logistics and transportation expenses increased,” S&P said.

“Firms did not, however, pass on hikes in costs to their customers, as output charges were broadly

unchanged on the month.”

Manufacturers remained upbeat regarding the outlook for output over the next year, with the degree of confidence the second-highest since April 2019.

Companies saw the fastest since April decline of the workforce numbers in the reporting period. At the same time, the number of orders in progress dropped at the fastest rate since June 2021.

Business confidence was at the second highest since April 2019 due to hopes of rising demand and investment in product.

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